Helsinki-based World Institute for Development Economics Research of the United Nations University (UNU-WIDER) in a comprehensive study ever done to measure personal wealth (titled The World Distribution of Household Wealth, December 2006) has said that the richest 1% of adults alone own 40% of global assets in the year 2000. The richest 2% of adults own more than half of global household wealth and the top 10% account for 85% of the total wealth. See the summary here, and the full Dec 5 report here (in pdf format).
If the above figures look frightening, there’s more in store. Following are some excerpts from the summary:
According to the study, almost all of the world’s richest individuals live in North America, Europe, and rich Asia-Pacific countries. Each of these groups of countries contribute about one third of the members of the world’s wealthiest 10%.
China occupies much of the middle third of the global wealth distribution, while India, Africa, and low-income Asian countries dominate the bottom third.
A small number of countries account for most of the wealthiest 10% in the world. One-quarter are Americans and another 20% are Japanese.
These two countries feature even more strongly among the richest 1% of individuals in the world, with 37% residing in the USA and 27% in Japan.
While the above gives a fair idea about wealth distribution in the world, it is suggested that one reads at least the summary for better understanding.
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